Gold Standard in International Trade, 1904 PDF Download

Author: United States; Commission on I Exchange
Publisher:
ISBN: 9781330741429
Category : Business & Economics
Languages : en
Pages : 534

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Book Description
Excerpt from Gold Standard in International Trade, 1904: Report on the Introduction of the Gold-Exchange Standard Into China, the Philippine Islands, Panama, and Other Silver-Using Countries, and on the Stability of Exchange The President: I have the honor to submit herewith the final report of the Commission on International Exchange, constituted under the authority of the act of March 3, 1903, and continued last year by means of a special appropriation. The chief purpose of the Commission was to bring about, as far as possible, a fixed relationship between the moneys of the gold-standard countries and the silver-using countries. This result could be accomplished chiefly by the establishment in the silver-using countries of new monetary systems on the gold exchange basis, the new silver and copper coins in those countries being given a fixed value in terms of gold. The work of the Commission, considering the difficulties of its task, has been on the whole very successful. The new monetary system in the Philippine Islands, established under act of Congress approved March 2, 1903, which in the main has furnished the model for the further work of the Commission, was in operation, but serious difficulties were met with in the transition from the old currency to the new. A member of the Commission was sent to study the situation and counsel with the Philippine Commission regarding these conditions. Two measures were passed by the Commission, the results of which were immediately beneficial, so that within three months after they went into full effect the new coins were in great demand and the new currency system of the islands was firmly established upon the new basis. Since the report of the Commission on International Exchange was presented to this Department the Republic of Mexico has passed a law carrying out the purpose announced by her Government in seeking the cooperation of the United States to establish a stable currency system for that Republic. This action was a natural sequence of the measures taken by the Commission on International Exchange while in Europe and by Mexico at home to facilitate the transition from the previous system of fluctuating exchange to one which would promote her trade with the United States and other gold-using countries. The beneficial effect of this law has already been felt in the exchanges between Mexico and New York. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.